Vietnamese pangasius exports to US sees plunge in price
VOV.VN - The average export price of Vietnamese pangasius to the United States in August plummeted by 44% to US$2.92 per kilo, representing the steepest fall since the beginning of the year, reported the General Department of Vietnam Customs.
Specifically, Vietnamese pangasius exports to the market hit more than US$25 million, marking a drop of 24% year on year, but up 38% month on month.
The country’s pangasius exports to the US by mid-September dropped by 55% to more than US$195 million compared to the same period from last year, accounting for 16% of total pangasius exports to foreign markets.
According to statistics from the International Trade Center (ITC), the US imported white-fleshed fish worth more than US$1 billion during the initial seven months of the year, of which imports from Vietnam reached over US$199 million. In fact, Vietnam accounts for 18% of the US’ total import value of white-fleshed fish products.
Insiders point out that despite experiencing a downward trend, there remains plenty of room for Vietnamese pangasius exports to the US market moving forward.
At the recent conference held as part of the Vietnam Fisheries International Exhibition (VietFish 2023), Arno Willemink, operation director of De Heus Vietnam, said that pangasius has gradually replaced other traditional white-fleshed fish due to their reasonable prices.
This marks a general trend which has affected the consumption potential of the pangasius industry, including in the US market, he added.
Meanwhile, the positive results from recent review by the United States Food Safety and Inspection Service (FSIS) and the 19th anti-dumping duty administrative review (POR19) by the US Department of Commerce on Vietnamese frozen pangasius fillets are anticipated to offer fresh impetus for local export businesses in the future.
Most notably, the elevation of the bilateral relationship to that of a Comprehensive Strategic Partnership during US President Joe Biden’s Vietnam visit on September 10-11 will open up a wealth of opportunities for Vietnamese seafood, including pangasius exports to this lucrative market.
